BI Asset Management Fondsmaeglerselskab A S Takes $2.07 Million Position in EchoStar Co. (NASDAQ:SATS)

BI Asset Management Fondsmaeglerselskab A S acquired a new position in shares of EchoStar Co. (NASDAQ:SATS) during the 4th quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission. The institutional investor acquired 90,507 shares of the communications equipment provider’s stock, valued at approximately $2,073,000.

A number of other hedge funds have also recently bought and sold shares of the company. Smartleaf Asset Management LLC raised its position in shares of EchoStar by 251.3% during the 4th quarter. Smartleaf Asset Management LLC now owns 1,609 shares of the communications equipment provider’s stock valued at $37,000 after acquiring an additional 1,151 shares during the last quarter. Covestor Ltd boosted its holdings in EchoStar by 189.1% during the fourth quarter. Covestor Ltd now owns 4,796 shares of the communications equipment provider’s stock worth $110,000 after buying an additional 3,137 shares during the last quarter. KBC Group NV grew its position in shares of EchoStar by 65.1% during the 4th quarter. KBC Group NV now owns 6,684 shares of the communications equipment provider’s stock worth $153,000 after buying an additional 2,635 shares during the period. Xponance Inc. increased its stake in shares of EchoStar by 8.7% in the 4th quarter. Xponance Inc. now owns 8,773 shares of the communications equipment provider’s stock valued at $201,000 after acquiring an additional 701 shares during the last quarter. Finally, LPL Financial LLC acquired a new stake in shares of EchoStar in the 4th quarter valued at approximately $204,000. 33.62% of the stock is currently owned by institutional investors.

Wall Street Analyst Weigh In

Separately, UBS Group increased their target price on shares of EchoStar from $15.00 to $28.00 and gave the stock a “neutral” rating in a report on Monday, January 13th. Two research analysts have rated the stock with a sell rating, three have assigned a hold rating and one has issued a buy rating to the company’s stock. According to data from MarketBeat, the company has an average rating of “Hold” and an average target price of $23.75.

EchoStar Stock Down 3.4 %

EchoStar stock opened at $21.00 on Tuesday. The stock has a market capitalization of $6.02 billion, a PE ratio of -2.29 and a beta of 0.72. EchoStar Co. has a twelve month low of $14.40 and a twelve month high of $32.48. The company has a 50 day moving average of $26.13 and a 200-day moving average of $25.32. The company has a quick ratio of 0.61, a current ratio of 0.67 and a debt-to-equity ratio of 1.11.

EchoStar (NASDAQ:SATS) last issued its quarterly earnings results on Thursday, February 27th. The communications equipment provider reported $1.24 EPS for the quarter, beating analysts’ consensus estimates of ($0.63) by $1.87. EchoStar had a negative return on equity of 0.64% and a negative net margin of 15.51%. The company had revenue of $3.97 billion for the quarter, compared to analyst estimates of $3.93 billion. On average, equities research analysts anticipate that EchoStar Co. will post -1.99 EPS for the current fiscal year.

EchoStar Company Profile

EchoStar Corporation, together with its subsidiaries, provides networking technologies and services worldwide. The company operates in four segments: Pay-TV, Retail Wireless, 5G Network Deployment, Broadband and Satellite Services. The Pay-TV segment offers a direct broadcast and fixed satellite services; designs, develops, and distributes receiver system; and provides digital broadcast operations, including satellite uplinking/downlinking, transmission and, other services to third-party pay-TV providers; and multichannel, live-linear and on-demand streaming over-the-top internet-based domestic, international, Latino, and Freestream video programming services under the DISH and SLING brand names.